Up front I wanted to clarify - all competitive procurements are "Best Value" procurements [see 15.403-1(c)(1)(i)]. Because it sort of sticks in my craw a bit, but understand the need for a shorthand, the term "Best Value" is typically used to describe "Technical Trade Off" evaluations, or a price analysis where price is a significant, but not determinative, factor in the award decision.